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Britain's Financial Conduct Authority has an "expectation" that financial institutions make use of a new law that allows them to share otherwise restricted information in the context of combating illicit finance, a senior official with the agency said Tuesday. The U.K. Economic Crime and Corporate Transparency Act, which entered into force in October, newly empowers banks, money services businesses and other companies regulated for anti-money laundering purposes to share details of suspicious clients and transactions with each other on a voluntary basis, among a host of other reforms. Andrew Wigston, head of financial crime at the U.K. Financial Conduct Authority,...